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Shell Purchases Majority Interest In Chicago-Based Distributed Energy Provider, Energy Services Company
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GI Endurant, LLC d/b/a GI Energy (GIE) announced that Rilette Springs, LLC, an affiliate of Shell New Energies, U.S. LLC (Shell), has made a strategic investment in GIE, purchasing a majority and controlling interest.
GI Energy is a provider of on-site energy solutions in North America, specializing in distributed energy resource development, financing, construction and advisory services, including load analytics. GIE’s customers include real estate developers, campuses, municipalities, hospitals and utilities.
The existing GIE management team remains in place and has expanded to include Dan McDevitt and Libby Edgar, as COO and CFO, respectively. Operations continue to be carried out from GIE’s headquarters in Chicago, and offices in New York and California.
"Our relationship with Shell means we can combine our development strengths with their appetite for long-term asset ownership, their balance sheet and their ability to solve commodity pricing challenges. Working with Shell and some of their innovative portfolio companies, like MP2, means we will be able to offer our customers something truly unique," said GIE CEO Tom Chadwick
"Working alongside GI Energy, Shell can help provide affordable, cleaner and resilient energy solutions to communities, airports and campuses in North America," said Brian Davis, Shell VP of Energy Solutions. "Together, we can better optimize distributed energy infrastructure with a flexible off-site electricity supply."
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May 8, 2018
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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